LG's CEO has already confirmed that his company is working on Retina Displays for Apple's iPad 3, but a new report from The Korea Times on Monday suggests that LG is also working on displays for the iPhone 5 and a smaller iPad. An unnamed source that was only identified as an LG executive told The Korea Times that Apple will add a 4-inch Retina Display to the iPhone 5, a half-inch larger than the current screen. In addition, the executive said LG is working with Apple to introduce a new iPad with a smaller 7.35-inch screen. We've heard plenty of rumors suggesting that Apple is hard at work building a brand-new fully redesigned iPhone 5 with a 4-inch screen and a teardrop design, so the report is not overly surprising. Also, a rumor surfaced in October that suggested Apple was building an "iPad mini" with a 7.85-inch screen, which is a bit larger than what The Korea Times reported. Apple could release its next iPad in March, but that model is expected to offer only marginal upgrades over the iPad 2; a fully re-designed unit is expected during the third quarter of 2012. The iPhone 5 could land as soon as this summer.